French Magazine L’Officiel Is Bringing Crypto To Fashion

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  • According to WWD, French magazine L’Officiel is launching its own cryptocurrency

 

  • CEO Benjamin Eymere has been developing a virtual currency and a blockchain-backed platform for over a year and hopes to bridge the gap between advertisers and consumers

 

  • Named La Liste, L’Officiel will be giving out $100 million in ‘Taste Tokens’ to 500,000 subscribers, each Taste Token will be worth $50. Some will receive tokens based on their status and income and some to readers who agree to take part in a brand survey, more tokens will be supplied if readers share more data and further engage with the magazines’ content

 

  • WWD stated, ”L’Officiel incentivizes readers and advertisers; advertisers have at least a guarantee that they’ll get deeper insights into consumer preferences and habits, if not a boost in product sales; consumers get to turn their data and clicks into online purchases”

 

  • Eymere commented, “We’ve created a virtual system and our visual system consists of rewarding people for their data.”

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